Derayah Financial’s net income rose 34.2% y-o-y to SAR 108.3 mn in 3Q 2024, while revenues increased 22.4% to SAR 209.8 mn over the same period, according to earnings reports Argaam says it has seen.

On a 9M basis: The brokerage firm’s bottomline increased 56.6% y-o-y to SAR 336.3 mn in the first nine months of 2024. Meanwhile, revenues grew 47.3% y-o-y to SAR 644 mn, driven by a 31% y-o-y increase from brokerage returns and more robust gains from murabaha, asset management, and investment segments, Argaam reports.

ICYMI- Derayah is set to become t he Kingdom’s first brokerage to go public on Tadawul, with the firm taking a 20% stake to the main market in a secondary share sale that will see 49.95 mn company shares up for grabs. Derayah is set to announce pricing and start institutional book building in 2 February.

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